Forex Daily Forecast, Analysis and Prediction

The recent GBP/USD performance continues to confirm the effectiveness of the trading strategy that we recommend in dealing with the pound pairs.

A state of risk appetite dominates the financial markets performance, of which the Forex market is an important component.

The EUR/USD is still enjoying the opportunity of an upward rebound amid clear investor risk appetite,

AUD/USD: Close to both strong support and resistance

USD/JPY: Pivotal point at 106.07

The price range for BTC/USD has remained within a fairly consolidated band the past week of trading.

After essentially stumbling in a choppy range since late July, the EUR/USD may be ready to become a speculative favorite again near term.

On the 6th of October the British Pound spiked downward against the USD and other currencies, as news circulated momentarily that the UK government was set to walk away from negotiations

The USD/ZAR is providing a consolidated trading range and is testing support and resistance levels with a rather consistent demeanor which may give the advantage to speculators.

BTC/USD: Heading towards $10k area

GBP/USD: May be a good short trade opportunity later

EUR/USD: Pivotal area around 1.1750

The Euro rallied during the trading session on Wednesday on more hope of a stimulus package coming out the United States.

The US dollar rallied against the Japanese yen during the trading session on Wednesday to break above the 50 day EMA.

The markets in general have been relatively quiet during the trading session on Wednesday and Bitcoin of course was no different.